Common use of Amendment and Renewal of Letters of Credit Clause in Contracts

Amendment and Renewal of Letters of Credit. Each Letter of Credit shall be Issued upon the written request of Borrower received by the Issuing Bank (with a copy sent by Borrower to Agent) at least five (5) Business Days (or such shorter time as the Issuing Bank may agree in a particular instance in its sole discretion) prior to the proposed date of Issuance, which request may be later revoked, provided that Borrower shall nonetheless be required to pay all Issuance fees even though the Letter of Credit originally requested was not issued. Each such request for Issuance of a Letter of Credit shall be by facsimile, confirmed promptly in an original writing, and shall specify in form and detail reasonably satisfactory to the Issuing Bank: (A) the proposed date of Issuance of the Letter of Credit (which shall be a Business Day); (B) the face amount of the Letter of Credit; (C) the expiry date of the Letter of Credit; (D) the name and address of the beneficiary thereof; (E) the documents to be presented by the beneficiary of the Letter of Credit in case of any drawing thereunder; (F) the full text of any certificate to be presented by the beneficiary in case of any drawing thereunder; and (G) such other matters as the Issuing Bank may reasonably require. Unless such Issuance is not then permitted under the terms of this Agreement, then, subject to the terms and conditions hereof, the Issuing Bank shall, on the requested date, Issue the requested Letter of Credit in accordance with the Issuing Bank's usual and customary business practices. From time to time while a Letter of Credit is outstanding, the Issuing Bank will, upon the written request of Borrower received by the Issuing Bank (with a copy sent by Borrower to Agent) at least five (5) Business Days (or such shorter time as the Issuing Bank may agree in a particular instance in its sole discretion) prior to the proposed date of amendment or renewal, amend or renew any Letter of Credit issued by it. Each such request for amendment or renewal of a Letter of Credit shall be made by facsimile, confirmed promptly in an original writing, made in the form of an application for amendment or renewal, and shall specify in form and detail reasonably satisfactory to the Issuing Bank: (A) the Letter of Credit to be amended or renewed; (B) the proposed date of amendment or renewal (which shall be a Business Day); (C) the nature of the proposed amendment or duration of the proposed renewal; and (D) such other matters as the Issuing Bank may reasonably require. The Issuing Bank shall be under no obligation to amend or renew any Letter of Credit if: (x) the Issuing Bank would have no obligation at such time to issue such Letter of Credit in its amended or renewed form under the terms of this Agreement; or (y) the beneficiary of any such Letter of Credit does not accept the proposed amendment to or renewal of the Letter of Credit. The Agent will promptly notify the Lenders of the receipt by it of any such request for amendment or renewal. If any outstanding Letter of Credit shall provide that it shall be automatically renewed unless the beneficiary thereof receives notice from the Issuing Bank that such Letter of Credit shall not be renewed, and if at the time of renewal the Issuing Bank would be entitled to authorize the automatic renewal of such Letter of Credit in accordance with this Section 2.14(c)(ii) upon the request of Borrower but the Issuing Bank shall not have received a request with respect to such renewal, the Issuing Bank shall nonetheless be permitted to allow such Letter of Credit to renew, and Borrower and the Lenders hereby authorize such renewal, and, accordingly, the Issuing Bank shall be deemed to have received a request for renewal from Borrower. The Issuing Bank may, at its election (or as required by the Agent at the direction of the Lenders), cause Borrower to take such action as may be necessary or appropriate, at any time and from time to time, in order to effectuate the purposes of Section 2.14(c)(ii).

Amendment and Renewal of Letters of Credit. Each (a) From time to time while a Letter of Credit shall be Issued is outstanding and prior to the Credit Facility Termination Date, the applicable Letter of Credit Issuing Bank will, upon the written request of the Borrower received by the such Letter of Credit Issuing Bank (with a copy sent by Borrower to Agent) at least five (5) Business Days no later than 12:00 noon, New York time (or such shorter time as the such Letter of Credit Issuing Bank may agree in a particular instance in its sole discretion) prior to the proposed date of Issuance, which request may be later revoked, provided that Borrower shall nonetheless be required to pay all Issuance fees even though the Letter of Credit originally requested was not issued. Each such request for Issuance of a Letter of Credit shall be by facsimile, confirmed promptly in an original writing, and shall specify in form and detail reasonably satisfactory to the Issuing Bank: (A) on the proposed date of Issuance of the Letter of Credit such amendment (which shall be a Business Day); (B) , consider the face amount amendment of the Letter of Credit; (C) the expiry date of the Letter of Credit; (D) the name and address of the beneficiary thereof; (E) the documents to be presented by the beneficiary of the Letter of Credit in case of any drawing thereunder; (F) the full text of any certificate to be presented by the beneficiary in case of any drawing thereunder; and (G) such other matters as the Issuing Bank may reasonably require. Unless such Issuance is not then permitted under the terms of this Agreement, then, subject to the terms and conditions hereof, the Issuing Bank shall, on the requested date, Issue the requested Letter of Credit in accordance with the Issuing Bank's usual and customary business practices. From time to time while a Letter of Credit is outstanding, the Issuing Bank will, upon the written request of Borrower received by the Issuing Bank (with a copy sent by Borrower to Agent) at least five (5) Business Days (or such shorter time as the Issuing Bank may agree in a particular instance in its sole discretion) prior to the proposed date of amendment or renewal, amend or renew any Letter of Credit issued Issued by it. Each such request for amendment or renewal of a Letter of Credit shall be made by facsimilefacsimile or other electronic transmission, confirmed promptly immediately in an original writing, made in the form of an application for amendment or renewal, L/C Amendment Application and shall specify in form and detail reasonably satisfactory to the such Letter of Credit Issuing Bank: (A) the Letter of Credit to be amended or renewedamended; (B) the proposed date of amendment or renewal of the Letter of Credit (which shall be a Business Day); (C) the nature of the proposed amendment or duration of the proposed renewalamendment; and (D) such other matters as the such Letter of Credit Issuing Bank may reasonably require. The No Letter of Credit Issuing Bank shall be under no any obligation to amend or renew any Letter of Credit. No such amendment will be made if prior to 5:00 p.m. (New York City time) on the Business Day immediately preceding the proposed date of amendment, a Xxxxxx has provided the Administrative Agent with, and the Administrative Agent has actually received, a written notice in the form of Exhibit E. If the Administrative Agent does timely receive a written notice in the form of Exhibit E, the Administrative Agent shall notify the Borrower and the applicable Letter of Credit if: (x) the Issuing Bank would have no obligation at by 2:00 p.m. New York time on the proposed date of amendment, and the proposed Letter of Credit will not be amended; provided, however, that if one or more Lenders do approve such time amendment, the applicable Letter of Credit Issuing Bank shall notify all Lenders and the approving Lenders may elect to issue become the Approving Lenders and amend such Letter of Credit in its amended or renewed form under thereby triggering the terms of this Agreement; or (y) the beneficiary of any such Letter of Conversion to Approving Lenders Credit does not accept the proposed amendment to or renewal of the Letter of Credit. The Agent will promptly notify the Lenders of the receipt by it of any such request for amendment or renewal. If any outstanding Letter of Credit shall provide that it shall be automatically renewed unless the beneficiary thereof receives notice from the Issuing Bank that such Letter of Credit shall not be renewed, and if at the time of renewal the Issuing Bank would be entitled to authorize the automatic renewal of such Letter of Credit in accordance with this Section 2.14(c)(ii) upon the request of Borrower but the Issuing Bank shall not have received a request with respect to such renewal, the Issuing Bank shall nonetheless be permitted to allow such Letter of Credit to renew, and Borrower and the Lenders hereby authorize such renewal, and, accordingly, the Issuing Bank shall be deemed to have received a request for renewal from Borrower. The Issuing Bank may, at its election (or as required by the Agent at the direction of the Lenders), cause Borrower to take such action as may be necessary or appropriate, at any time and from time to time, in order to effectuate the purposes of Section 2.14(c)(ii)Extension Date.

Amendment and Renewal of Letters of Credit. Each (a) From time to time while a Letter of Credit shall be Issued upon is outstanding, prior to the written Expiration Date and subject to the limitations set forth in Section 4.01(c) of this Agreement, the Borrower may request the Issuance of Borrower received an amendment to a Letter of Credit, by giving the Issuing Bank (with applicable Letter of Credit Issuer a Letter of Credit Request, and simultaneously giving the Administrative Agent and each other Lender a copy sent thereof, on the Business Day of the requested Issuance of such amendment to a Letter of Credit. Subject to the limitations set forth in Section 4.01(c) of this Agreement, on an UNCOMMITTED AND ABSOLUTELY DISCRETIONARY basis and on the terms and conditions set forth therein, each Letter of Credit Issuer will, upon receipt by Borrower to Agent) at least five (5) such Letter of Credit Issuer of such a Letter of Credit Request on the Business Days (or such shorter time as the Issuing Bank may agree in a particular instance in its sole discretion) prior to Day of the proposed date of Issuanceamendment, which request may be later revoked, provided that Borrower shall nonetheless be required to pay all consider the Issuance fees even though the of an amendment of any Letter of Credit originally requested was Issued by it. Any such Letter of Credit Request for an amendment received by a Letter of Credit Issuer or the Administrative Agent later than 12:00 noon, New York time, shall be deemed to have been received thereby at the opening of business on the next Business Day; provided, however, that the Administrative Agent and the applicable Letter of Credit Issuer may, in their sole and absolute discretion, consider requests for amendments to Letters of Credit received after 12:00 p.m., New York City time, on the day of a proposed amendment, so long as such amendment is not issuedfor the increase of the Face Amount of a Letter of Credit or for the extension of the expiry of a Letter of Credit. Each such request for Issuance an amendment of a Letter of Credit shall be made by facsimilefacsimile or other electronic means acceptable to the Administrative Agent, confirmed promptly in shall be irrevocable and shall be effective upon receipt by such Letter of Credit Issuer or the Administrative Agent. Each such request for amendment of a Letter of Credit shall be made accompanied by an original writing, L/C Amendment Application and shall specify in form and detail reasonably satisfactory to the Issuing Banksuch Letter of Credit Issuer: (Ai) the Letter of Credit to be amended; (ii) the proposed date of Issuance amendment of the Letter of Credit (which shall be a Business Day); (B) the face amount of the Letter of Credit; (C) the expiry date of the Letter of Credit; (D) the name and address of the beneficiary thereof; (E) the documents to be presented by the beneficiary of the Letter of Credit in case of any drawing thereunder; (F) the full text of any certificate to be presented by the beneficiary in case of any drawing thereunder; and (G) such other matters as the Issuing Bank may reasonably require. Unless such Issuance is not then permitted under the terms of this Agreement, then, subject to the terms and conditions hereof, the Issuing Bank shall, on the requested date, Issue the requested Letter of Credit in accordance with the Issuing Bank's usual and customary business practices. From time to time while a Letter of Credit is outstanding, the Issuing Bank will, upon the written request of Borrower received by the Issuing Bank (with a copy sent by Borrower to Agent) at least five (5) Business Days (or such shorter time as the Issuing Bank may agree in a particular instance in its sole discretion) prior to the proposed date of amendment or renewal, amend or renew any Letter of Credit issued by it. Each such request for amendment or renewal of a Letter of Credit shall be made by facsimile, confirmed promptly in an original writing, made in the form of an application for amendment or renewal, and shall specify in form and detail reasonably satisfactory to the Issuing Bank: (A) the Letter of Credit to be amended or renewed; (B) the proposed date of amendment or renewal (which shall be a Business Day); (Ciii) the nature of the proposed amendment or duration of the proposed renewalamendment; and (Div) such other matters as the Issuing Bank such Letter of Credit Issuer may reasonably require. The Issuing Bank No Letter of Credit Issuer shall be under no any obligation to amend any Letter of Credit. No Letter of Credit Issuer shall Issue any amendment to a Letter of Credit unless an authorized officer of the Administrative Agent shall have consented to the Issuance in writing. Each Letter of Credit Issuer shall promptly notify the Administrative Agent and each other Lender as to the Issuance of an amendment to any Letter of Credit. No such Issuance will be made for the increase of the Face Amount of a Letter of Credit or renew any for the extension of the expiry of a Letter of Credit if: , prior to 5:00 p.m., New York time, on the Business Day immediately preceding the proposed Business Day of Issuance, the Administrative Agent has received a written Notice of Declining Lender (x) unless a Conversion to Approving Lenders Funding Date has occurred with respect to such Declining Lenders). If the Issuing Bank would have Administrative Agent does receive a written Notice of Declining Lender on a timely basis (and no obligation at Conversion to Approving Lenders Funding Date has occurred with respect to such time to issue Declining Lender), the Administrative Agent shall notify the Borrower and such Letter of Credit Issuer by 6:00 p.m., New York time, time on the Business Day of the proposed date of Issuance, and any such proposed amendment to a Letter of Credit will not be Issued, unless one or more of the Lenders have elected to become Approving Lenders thereby triggering the Conversion to Approving Lenders Funding Date. If the Approving Lenders elect to Issue the amendment to a Letter of Credit for the increase of the Face Amount of a Letter of Credit or for the extension of the expiry of a Letter of Credit in its amended or renewed form under the terms absence of this Agreement; or (y) a Conversion to Approving Lenders Funding Date notwithstanding the beneficiary Administrative Agent’s receipt of any such Notice of Declining Lender, such Letter of Credit does not accept Issuer shall (on a pro rata basis among the proposed Approving Lenders) Issue the amendment to increasing the applicable Letter of Credit by the full amount of such requested amendment or renewal extending the expiry of the applicable Letter of Credit. The Agent will promptly notify the Lenders of the receipt by it of any such request for amendment or renewal. If any outstanding Letter of Credit shall provide ; provided, however, that it shall be automatically renewed unless the beneficiary thereof receives notice from the Issuing Bank that if such Letter of Credit Issuer shall not be renewedable to Issue the amendment increasing the applicable Letter of Credit by the full amount of such requested amendment or extending the expiry of the applicable Letter of Credit, such Letter of Credit Issuer shall not issue such amendment and if at neither such Letter of Credit Issuer nor any Lender shall be considered a Declining Lender (other than the time Lender having issued a Notice of renewal the Issuing Bank would be entitled to authorize the automatic renewal Declining Lender) or Defaulting Lender as a result of such Letter of Credit in accordance with this Section 2.14(c)(ii) upon the request of Borrower but the Issuing Bank shall Issuer not have received a request with respect to having Issued such renewal, the Issuing Bank shall nonetheless be permitted to allow such Letter of Credit to renew, and Borrower and the Lenders hereby authorize such renewal, and, accordingly, the Issuing Bank shall be deemed to have received a request for renewal from Borrower. The Issuing Bank may, at its election (or as required by the Agent at the direction of the Lenders), cause Borrower to take such action as may be necessary or appropriate, at any time and from time to time, in order to effectuate the purposes of Section 2.14(c)(ii)amendment.

Amendment and Renewal of Letters of Credit. Each (a) From time to time while a Letter of Credit shall be Issued upon is outstanding, prior to the written Expiration Date and subject to the limitations set forth in Section 4.01(d) of this Agreement, the Borrower may request the Issuance of Borrower received an amendment to a Letter of Credit, by giving the Issuing Bank (with applicable Letter of Credit Issuer a Letter of Credit Request, and simultaneously giving the Administrative Agent and each other Lender a copy sent thereof, on the Business Day of the requested Issuance of such amendment to a Letter of Credit. Subject to the limitations set forth in Section 4.01(d) of this Agreement, on an UNCOMMITTED AND ABSOLUTELY DISCRETIONARY basis and on the terms and conditions set forth therein, each Letter of Credit Issuer will, upon receipt by Borrower to Agent) at least five (5) such Letter of Credit Issuer of such a Letter of Credit Request on the Business Days (or such shorter time as the Issuing Bank may agree in a particular instance in its sole discretion) prior to Day of the proposed date of Issuanceamendment, which request may be later revoked, provided that Borrower shall nonetheless be required to pay all consider the Issuance fees even though the of an amendment of any Letter of Credit originally requested was Issued by it. Any such Letter of Credit Request for an amendment received by a Letter of Credit Issuer or the Administrative Agent later than 12:00 noon, New York time, shall be deemed to have been received thereby at the opening of business on the next Business Day; provided, however, that the Administrative Agent and the applicable Letter of Credit Issuer may, in their sole and absolute discretion, consider requests for amendments to Letters of Credit received after 12:00 p.m., New York City time, on the day of a proposed amendment, so long as such amendment is not issuedfor the increase of the Face Amount of a Letter of Credit or for the extension of the expiry of a Letter of Credit. Each such request for Issuance an amendment of a Letter of Credit shall be made by facsimilefacsimile or other electronic means acceptable to the Administrative Agent, confirmed promptly in shall be irrevocable and shall be effective upon receipt by such Letter of Credit Issuer or the Administrative Agent. Each such request for amendment of a Letter of Credit shall be made accompanied by an original writing, L/C Amendment Application and shall specify in form and detail reasonably satisfactory to the Issuing Banksuch Letter of Credit Issuer: (Ai) the Letter of Credit to be amended; (ii) the proposed date of Issuance amendment of the Letter of Credit (which shall be a Business Day); (B) the face amount of the Letter of Credit; (C) the expiry date of the Letter of Credit; (D) the name and address of the beneficiary thereof; (E) the documents to be presented by the beneficiary of the Letter of Credit in case of any drawing thereunder; (F) the full text of any certificate to be presented by the beneficiary in case of any drawing thereunder; and (G) such other matters as the Issuing Bank may reasonably require. Unless such Issuance is not then permitted under the terms of this Agreement, then, subject to the terms and conditions hereof, the Issuing Bank shall, on the requested date, Issue the requested Letter of Credit in accordance with the Issuing Bank's usual and customary business practices. From time to time while a Letter of Credit is outstanding, the Issuing Bank will, upon the written request of Borrower received by the Issuing Bank (with a copy sent by Borrower to Agent) at least five (5) Business Days (or such shorter time as the Issuing Bank may agree in a particular instance in its sole discretion) prior to the proposed date of amendment or renewal, amend or renew any Letter of Credit issued by it. Each such request for amendment or renewal of a Letter of Credit shall be made by facsimile, confirmed promptly in an original writing, made in the form of an application for amendment or renewal, and shall specify in form and detail reasonably satisfactory to the Issuing Bank: (A) the Letter of Credit to be amended or renewed; (B) the proposed date of amendment or renewal (which shall be a Business Day); (Ciii) the nature of the proposed amendment or duration of the proposed renewalamendment; and (Div) such other matters as the Issuing Bank such Letter of Credit Issuer may reasonably require. The Issuing Bank No Letter of Credit Issuer shall be under no any obligation to amend any Letter of Credit. No Letter of Credit Issuer shall Issue any amendment to a Letter of Credit unless an authorized officer of the Administrative Agent shall have consented to the Issuance in writing. Each Letter of Credit Issuer shall promptly notify the Administrative Agent and each other Lender as to the Issuance of an amendment to any Letter of Credit. No such Issuance will be made for the increase of the Face Amount of a Letter of Credit or renew any for the extension of the expiry of a Letter of Credit if: , prior to 5:00 p.m., New York time, on the Business Day immediately preceding the proposed Business Day of Issuance, the Administrative Agent has received a written Notice of Declining Lender (x) unless a Conversion to Approving Lenders Funding Date has occurred with respect to such Declining Lenders). If the Issuing Bank would have Administrative Agent does receive a written Notice of Declining Lender on a timely basis (and no obligation at Conversion to Approving Lenders Funding Date has occurred with respect to such time to issue Declining Lender), the Administrative Agent shall notify the Borrower and such Letter of Credit Issuer by 6:00 p.m., New York time, time on the Business Day of the proposed date of Issuance, and any such proposed amendment to a Letter of Credit will not be Issued, unless one or more of the Lenders have elected to become Approving Lenders thereby triggering the Conversion to Approving Lenders Funding Date. If the Approving Lenders elect to Issue the amendment to a Letter of Credit for the increase of the Face Amount of a Letter of Credit or for the extension of the expiry of a Letter of Credit in its amended or renewed form under the terms absence of this Agreement; or (y) a Conversion to Approving Lenders Funding Date notwithstanding the beneficiary Administrative Agent's receipt of any such Notice of Declining Lender, such Letter of Credit does not accept Issuer shall (on a pro rata basis among the proposed Approving Lenders) Issue the amendment to increasing the applicable Letter of Credit by the full amount of such requested amendment or renewal extending the expiry of the applicable Letter of Credit. The Agent will promptly notify the Lenders of the receipt by it of any such request for amendment or renewal. If any outstanding Letter of Credit shall provide ; provided, however, that it shall be automatically renewed unless the beneficiary thereof receives notice from the Issuing Bank that if such Letter of Credit Issuer shall not be renewedable to Issue the amendment increasing the applicable Letter of Credit by the full amount of such requested amendment or extending the expiry of the applicable Letter of Credit, such Letter of Credit Issuer shall not issue such amendment and if at neither such Letter of Credit Issuer nor any Lender shall be considered a Declining Lender (other than the time Lender having issued a Notice of renewal the Issuing Bank would be entitled to authorize the automatic renewal Declining Lender) or Defaulting Lender as a result of such Letter of Credit in accordance with this Section 2.14(c)(ii) upon the request of Borrower but the Issuing Bank shall Issuer not have received a request with respect to having Issued such renewal, the Issuing Bank shall nonetheless be permitted to allow such Letter of Credit to renew, and Borrower and the Lenders hereby authorize such renewal, and, accordingly, the Issuing Bank shall be deemed to have received a request for renewal from Borrower. The Issuing Bank may, at its election (or as required by the Agent at the direction of the Lenders), cause Borrower to take such action as may be necessary or appropriate, at any time and from time to time, in order to effectuate the purposes of Section 2.14(c)(ii)amendment.